How much is property tax in Toronto? 2026 rates, with examples
Toronto's 2026 residential property tax rate is 0.767311% of your MPAC assessed value. Here's the math, worked examples for condos and houses, and why 'average' numbers mislead.
Toronto property tax is one multiplication: your home's MPAC assessed value × the residential tax rate. For 2026, the residential rate is 0.767311%, made up of three components:
| Component | Rate |
|---|---|
| City tax | 0.605295% |
| Education (provincial) | 0.153% |
| City Building Fund | 0.009016% |
| Total | 0.767311% |
Council sets the City portion with each year's budget, so the total moves a little every year.
Worked examples
| Assessed value | Annual tax | Per month |
|---|---|---|
| $500,000 | $3,837 | ~$320 |
| $700,000 | $5,371 | ~$448 |
| $1,000,000 | $7,673 | ~$639 |
Want your own number? The property tax calculator does this math with the current rates — enter your assessed value and you're done.
Assessed value is not market value
The number that matters is on your MPAC Property Assessment Notice (or at mpac.ca under About My Property, where your assessment roll number lives too). Ontario's assessments are still based on January 1, 2016 values — the province has repeatedly postponed reassessment — so most Toronto homes are assessed well below what they'd sell for today. That's the main reason your tax bill looks small next to your home's market value, and why you shouldn't multiply the rate by a purchase price.
So what's the "average" property tax?
Honest answer: the average is close to meaningless, because the spread is huge and it's all driven by assessed value. A downtown one-bedroom condo assessed around $400,000 pays about $3,069; a detached house assessed at $1.2M pays about $9,208. Same rate, wildly different bills. If someone quotes you one "average Toronto property tax," they've mostly told you which housing type they had in mind.
Two useful reference points instead:
- Condos commonly land in the $2,500–$4,500 range.
- Detached and semi-detached houses commonly land in the $5,000–$10,000 range.
"Mill rate," translated
Older guides quote a mill rate — tax per $1,000 of assessed value. Toronto's 2026 residential rate of 0.767311% is 7.67 mills. Same number, different unit.
Toronto's rate is low. The bills aren't.
Toronto has one of the lowest residential tax rates in Ontario — suburbs and smaller cities commonly run 1–1.5%. High Toronto property values do the work the rate doesn't. When comparing cities, compare the dollars on comparable homes, not the rates.
Check the property you're eyeing
Tax is one line in the cost of a property. Before you offer, pull the address's permit history, open orders & violations, and bylaw investigations — or start with the property snapshot for everything on file in one view.